The Reserve Bank of India has extended the directions on Suri Friends Union Co-operative Bank for three more months. The RBI directions on Suri Friends Union Co-operative Bank will now remain in force until October 22, 2026. This extension comes after the previous deadline of July 22, 2026 was set to expire.
Key Details of the RBI Extension
The RBI first issued these directions under Section 35A of the Banking Regulation Act, 1949 on July 21, 2022. Initially, the directions covered a six-month period. However, the central bank has since extended them multiple times in the public interest.
The latest directive, issued in April 2026, had extended the restrictions until July 22, 2026. Now, the RBI has added another three months, pushing the deadline to October 22, 2026. Additionally, the extension remains subject to review, meaning the RBI could act sooner if required.
All other terms and conditions of the original directive remain unchanged. Therefore, customers and stakeholders should note that no new restrictions have been added at this stage.
What This Means for Customers
The RBI directions on Suri Friends Union Co-operative Bank place regulatory restrictions on the bank’s operations. As a result, customers may face continued limitations on withdrawals and other banking activities. The bank is located in Suri, West Bengal.
Meanwhile, the RBI has clarified an important point for depositors. The extension of these directions does not mean the central bank is satisfied with the bank’s financial health. For example, the regulator may still take further action depending on its ongoing review.
The RBI exercises these powers to protect depositors and maintain financial stability. Therefore, customers are advised to stay updated on any new announcements regarding the bank’s status. Additionally, those with deposits should monitor official RBI communications closely.
Background and Regulatory Context
Co-operative banks in India fall under dual regulation by the RBI and state governments. However, the RBI holds authority over their banking functions under the Banking Regulation Act. As a result, the central bank can issue binding directions when it identifies risks to depositors or public interest.
The Suri Friends Union Co-operative Bank has been under these restrictions for nearly four years now. The RBI continues to monitor the situation closely before deciding on the next course of action.
Source: RBI Press Releases
